The data center REIT says it plans to use the proceeds to temporarily pay down outstanding debt under its revolving credit lines. The credit lines would then be tapped again to help pay for future acquisitions and development projects.
Credit Suisse Securities LLC was the sole book-running manager for the offering. It has the option to buy up to an additional 375,000 shares of stock to cover any over-allotments.
Shares of Digital Realty Trust fell $2.52, or 7.1%, to $32.87 on Tuesday as the broader markets also tumbled.
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